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Company directors

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Directors are responsible for managing the company’s day-to-day business and may, or may not, be shareholders.  Directors owe duties to the company, to its shareholders, and to others dealing with the company.

Directors must act honestly in what they believe to be the best interests of the company and with such care as may reasonably be expected of them in all the circumstances.

Directors must not carry on the business in a manner likely to create a substantial risk of serious loss to the company’s creditors (also called 'reckless trading').
 

How many directors should a company have?

A company must have at least one director who either lives in New Zealand; or lives in Australia and is a director of a company incorporated in Australia.

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Who can't be a director?

Certain people can't be appointed as a director of a company.

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Update director details on the register

Any changes in the director(s) of a company or information relating to the director(s) must be notified to the Registrar.

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Case study | Directorships

These comments from an experienced business coach may be of help.

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Institute of Directors in New Zealand (Inc)

The Institute of Directors in New Zealand (Inc) is a non-profit membership organisation dedicated to the promotion of effective corporate governance, representing directors' interests and facilitating their development through training.

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Last updated 15 January 2015